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Property Values in New York Show Vibrancy
As the nationwide property market cools, real estate in New York City is showing surprising vibrancy, with estimated market values jumping by 19 percent in 2006, double the increase from the previous year, city officials said yesterday.
And the steepest jump in market values is occurring in the Bronx and Brooklyn, with increases of 27.6 percent in both boroughs. That suggests that the booming real estate market is continuing to shower benefits far beyond the gilded confines of Manhattan.
The data come from the most authoritative snapshot of city property: the annual assessment roll, which contains market and assessed values for all residential, commercial and other property.
( Read more... )
As the nationwide property market cools, real estate in New York City is showing surprising vibrancy, with estimated market values jumping by 19 percent in 2006, double the increase from the previous year, city officials said yesterday.
And the steepest jump in market values is occurring in the Bronx and Brooklyn, with increases of 27.6 percent in both boroughs. That suggests that the booming real estate market is continuing to shower benefits far beyond the gilded confines of Manhattan.
The data come from the most authoritative snapshot of city property: the annual assessment roll, which contains market and assessed values for all residential, commercial and other property.
( Read more... )
